Russian retailer Magnit is reportedly planning to open a new discount supermarket chain, according to an article on the Kommersant newspaper. Sources close to the retailer reported that the retailer plans to develop a new chain of discounters, a concept that started being planned in 2022, it is expected to be approved in Q1 2023 and afterwards the first stores will open. The discount supermarkets have been trending in the …
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Magnit
Leading Russian food retailer has posted a 13.07% increase in annual revenue to 1.07 trillion RUB ($19.0 billion), according to recently published full year results . The retailer’s gross profit increased to 295.76 billion RUB ($5.25 billion), with its margin standing at 27.52%, according to a report in European Supermarket Magazine. The retailer is said to have added a total of 1,970 stores to its portfolio during 2015, where 927 were convenience stores, 18 …
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